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Jan 13, 2013
01/13
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we actually think that it is very important to acknowledge that capitalism has been planned economies as the way to move people out of poverty and improve lives. 700 million people since 1980 have been lifted out of poverty, largely through one sort of capitalism or another. but at the same time, we have to admit that capitalism in the anglo-american sense has gone off the rails a bit. for us, exhibit a of that is the inequality rate. since the 1980's, when i graduated from law school and enter the work force, my dad worked two jobs and put four children through college and law school and said this is america, you can do whatever you want. i had that experience. since 1980, the top 1% have had an increase in their income of 275%. during the same time, the middle-class, the 60% in the middle, have had an increase of 40%, and the lowest of 18%. at the same time, in 1980, when i entered the work force, the average ceo was making 40 times the average worker. now the average ceo is making 380 times the average worker. i think the best metaphor i have seen for our problem, which i consider
we actually think that it is very important to acknowledge that capitalism has been planned economies as the way to move people out of poverty and improve lives. 700 million people since 1980 have been lifted out of poverty, largely through one sort of capitalism or another. but at the same time, we have to admit that capitalism in the anglo-american sense has gone off the rails a bit. for us, exhibit a of that is the inequality rate. since the 1980's, when i graduated from law school and enter...
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Jan 21, 2013
01/13
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as for overseas trade, china's economy is predicted to grow at 7%. it used to be 15%. "hu jintao's approach was 'build the middle class.' i don't know if the next leader will make that his goal." and in europe, observers think the worst is over, but the first half of the year will be slow. "they're going to make progress, but not enough to change much. what they need is private equity, private investment." finally, investing in community or regional banks - an alternative that may surprise you. "you can invest in small banks and help your community. if enough people do that, the country will improve." lastly, financial analysts say the ipo calendar will be worth tracking in 2013. with roughly 150 private companies ready to make their initial public offerings, more than in each of the last two years. the new year is bringing in a new form of identity theft. jennifer waters of marketwatch.com tells us the criminals are closer than you think. good morning jen. > > good morning there angela. these bad guys can be your neighbors. they could even live in your house as well.
as for overseas trade, china's economy is predicted to grow at 7%. it used to be 15%. "hu jintao's approach was 'build the middle class.' i don't know if the next leader will make that his goal." and in europe, observers think the worst is over, but the first half of the year will be slow. "they're going to make progress, but not enough to change much. what they need is private equity, private investment." finally, investing in community or regional banks - an alternative...
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Jan 14, 2013
01/13
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CNBC
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fuel economy, cafe, and people's driving habits. more conscious fuel economy. we see a small growing small car segment. as p gr as /* people want the functionality that shows their personality and we believe this does that. >> is the bounce back, as far as recovering from the economy and u.s. sales. >> i think the playing field is level. we are starting the year with good inventory. same time last year we didn't have good inventory. this year it is a level play be field. we think we have tail wind as an industry going into the year. age of the car fleet. 11 plus years. all of those things. we think everybody is breaking great new product to market. we think that will stimulate as well. >> you are in california. you are seeing sales way above the national average in terms of increases there. does that pretend that rest of the country follows in 2013-14. >> historically we looked to the coast, california and new york, as bell weathers for the rest of the nation. if that pattern stays true, yes, we think that that result could come across the u.s. and we could get
fuel economy, cafe, and people's driving habits. more conscious fuel economy. we see a small growing small car segment. as p gr as /* people want the functionality that shows their personality and we believe this does that. >> is the bounce back, as far as recovering from the economy and u.s. sales. >> i think the playing field is level. we are starting the year with good inventory. same time last year we didn't have good inventory. this year it is a level play be field. we think we...
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Jan 14, 2013
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yet the economy is -- the real economy is trading somewhat off its highs. if you look at europe, for example, where the headlines have been negative. the news flow has been awful. performance has been awful as well. so the market in europe has more reflected the performance of the real economy than it has here in the u.s. the fed qe program, the safe haven of the u.s. has caused money to flow to this part of the world. i think that leaves the u.s. a little pricier and perhaps more of a risk. >> it takes courage to fight the fed, though, right? >> absolutely. but ultimately and jack said it, fundamentals do matter. i think the market will reflect those. >> i heard active management does better in down markets than the index. they do better in the up markets. >> no question about it. and if you looked at the '08 to first quarter of '09 period, many people left them, haven't come back. god forbid we have another experience like that. then you'll see the index funds have a hard time recapturing the momentum. >> you see a blend of active and passive? >> i think
yet the economy is -- the real economy is trading somewhat off its highs. if you look at europe, for example, where the headlines have been negative. the news flow has been awful. performance has been awful as well. so the market in europe has more reflected the performance of the real economy than it has here in the u.s. the fed qe program, the safe haven of the u.s. has caused money to flow to this part of the world. i think that leaves the u.s. a little pricier and perhaps more of a risk....
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Jan 14, 2013
01/13
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FBC
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economy which is still the biggest economy in the world, if you've got a weak economy, unfortunately, i know you are saying good economy, but some are saying we are going to have a weak economy in 2013, if that's the case, do i want to be high yield? does that make sense to you? >> yeah, it does because high yield you get paid a lot of different ways. high income, risk adjusted return. last year up over 15%. almost as much as equities, but you're still getting paid to take that risk to be in there. global bonds is a win-win-win. you get paid on yield. you get paid on -- for diversification. you get paid on currency risk. so that's a good place to be. and i'm not saying we're in armageddon on the equities side i do like mid caps, but what i think you need to be is make sure just trim back a little bit on equities, and i don't think it's the end of the world. but good economy part is the consumer. we like the consumer because the fed with the quantitative easing is bolstering the consumer through housing, and that's why i think for the consumers, for main street, it's going to feel good
economy which is still the biggest economy in the world, if you've got a weak economy, unfortunately, i know you are saying good economy, but some are saying we are going to have a weak economy in 2013, if that's the case, do i want to be high yield? does that make sense to you? >> yeah, it does because high yield you get paid a lot of different ways. high income, risk adjusted return. last year up over 15%. almost as much as equities, but you're still getting paid to take that risk to be...
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Jan 21, 2013
01/13
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FBC
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economy which means a lot to u.s. companies, but at the same time, the peso, if there is more pressure on that currency, what does that mean for us, do you think? >> so the peso has been pretty interesting because their central bank last week did a little bit of a 180 because they were expecting that they were going to be raising interest rates sometime here in 2013. and they kind of just pulled the rug out underneath it saying, you know, there's the potential that we might actually start to, you know, maybe reduce interest rates. [talking over each other] >> it was definitely something that caught participants by surprise, testing some previous 2012 lows there in terms of dollar mexico. it will be interesting to see if that trend continues. but mexico i think is a currency that we still want to be going into going forward. cheryl: one of the things we look on a daily basis during the market hours is what the euro is doing versus the dollar. always surprised me that the euro never went below like a $1.22 or so against
economy which means a lot to u.s. companies, but at the same time, the peso, if there is more pressure on that currency, what does that mean for us, do you think? >> so the peso has been pretty interesting because their central bank last week did a little bit of a 180 because they were expecting that they were going to be raising interest rates sometime here in 2013. and they kind of just pulled the rug out underneath it saying, you know, there's the potential that we might actually start...
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Jan 18, 2013
01/13
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CNBC
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don't forget how large that economy is relative to the world economies so i think the market has nothing but not green shoots but blossoming flowers. go buy it. >> so why then, doc, are you still more cautious than the other guys? >> partly because, judge, i like owning options instead of owning equities. i just do. the only times i like owning equities are like for instance when joe and i fight about stocks with nice yield. i mean whether it's a verizon or whether it is intel, if i'm talking about a 4% dividend yielder that i can get in there and write options against it as well and take it to double digits on the return i like that. but i don't like buying apple. i don't like buying a lot of the stocks that don't have the yield, judge, that are attractive to me. instead, i trade the options. >> speaking of verizon i'm glad you mentioned it. next week is a bonanza earnings week. there are so many important companies reporting next week that that is going to decide where this market goes. don't you think? >> yes. the expectations in terms of what the potential growth for eps and the pote
don't forget how large that economy is relative to the world economies so i think the market has nothing but not green shoots but blossoming flowers. go buy it. >> so why then, doc, are you still more cautious than the other guys? >> partly because, judge, i like owning options instead of owning equities. i just do. the only times i like owning equities are like for instance when joe and i fight about stocks with nice yield. i mean whether it's a verizon or whether it is intel, if...
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Jan 14, 2013
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and what is its impact on the economy and productivity. joining me now is hudson institute senior fellow and former health and human services. nice to have you back. do we have a gauge as to how much this flu will cost the busy con my in businesses? >> unfortunately costing businesses about $10.4 billion. that is real cash it will cost businesses. on the other hand, while businesses need to get work done, they need to be careful not to force people to come to work, spread it, and make it worse. >> a lot of people want it hang on to their jobs. the economy is recovering but we are not back to the best employment yet. a lot of employees feel they have to come in no matter what. >> the truth is, you learned all the things you need to learn in kindergarten. wash your hands well, cough into your sleeve. if you're sick, don't go to sleeve or work. it does put people into a bind and we know it is a tough situation. >> this flu seemed to come earlier than in the past. is that the case? >> we're not sure it is that much worse than other flu seasons
and what is its impact on the economy and productivity. joining me now is hudson institute senior fellow and former health and human services. nice to have you back. do we have a gauge as to how much this flu will cost the busy con my in businesses? >> unfortunately costing businesses about $10.4 billion. that is real cash it will cost businesses. on the other hand, while businesses need to get work done, they need to be careful not to force people to come to work, spread it, and make it...
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Jan 14, 2013
01/13
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economy questioned, that kind of drop in confidence has the potential to create the next financial collapse. of course, so does unchecked runaway spending. so, it seems clear, neither is a good option. it's hope washington realizes this. quick check on the markets and it was a mixed day. the dow jones up 18 points. nasdaq down 8. s&p 500 down 1.37 points. the real stock of the day was dell. it is higher today on reports that it is in talks over a possible buyout by private equity firms. take a look. the stock rallied almost 13%. that will do it for us. thank you for being with us. hope you'll follow me on twitter and google plus. stay with cnbc, because "fast money" begins right now. >>> live from the nasdaq market site in new york city's times square. i'm melissa lee. sour apples. shares of the iphone maker slide. is apple turning into forbidden fruit? the mystery event. what facebook could be unveiling in less than 24 hours. we're in countdown mode with one of its biggest investors. and the great rotation into stocks heating up. we get the likely impact. first, our top story. apple shares
economy questioned, that kind of drop in confidence has the potential to create the next financial collapse. of course, so does unchecked runaway spending. so, it seems clear, neither is a good option. it's hope washington realizes this. quick check on the markets and it was a mixed day. the dow jones up 18 points. nasdaq down 8. s&p 500 down 1.37 points. the real stock of the day was dell. it is higher today on reports that it is in talks over a possible buyout by private equity firms....
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Jan 21, 2013
01/13
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no really good news and our economy. there is a huge opportunity. the saudi arabia of energy by 2020 if we are allowed to get to it. lori: thank you. melissa: all right. sports. superable 47 is now the battle of the bros. twenty-eight to 13 capturing the afc crown and a chance to play his brother. san francisco forty-niners and the big game. 28-24 yesterday. played one week from sunday in new orleans. kick up its 6:30 p.m. eastern time. i don't expect immediate to blow up this battle. melissa: was there mom on morning television? who will she reform. the camera on her during the game. dad. both football players before the begin coaches. we have been down this road before. i'm getting excited about this. the buccaneers fan by marriage can be very tough. all right. coming up tonight, the jobs council has not had an official meeting in one year. set to retire at the end of the month. our power panel will discuss. tonight at 5:00 p.m. eastern right here on fox business. don't miss it. melissa: there are several ahead in our programming. live programming
no really good news and our economy. there is a huge opportunity. the saudi arabia of energy by 2020 if we are allowed to get to it. lori: thank you. melissa: all right. sports. superable 47 is now the battle of the bros. twenty-eight to 13 capturing the afc crown and a chance to play his brother. san francisco forty-niners and the big game. 28-24 yesterday. played one week from sunday in new orleans. kick up its 6:30 p.m. eastern time. i don't expect immediate to blow up this battle. melissa:...
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Jan 14, 2013
01/13
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are the developing economies engines of growth? here with the outlook is daniel gamba, head of black rock's ishare's institutional business. a big year last year. is it going to keep up? >> a great year for etfs and emerging markets. emerging markets grew about 50% year over year, and it was five times the close the year prior, and it happened both on equities and on debt, and we expect that this year will continue to be that. a lot of the growth came in the fourth quarter, and these actually continues towards now. tracy: if i'm not in emerging markets, it's not too late to get in? >> it's not too late to get in. evaluations still low in the markets. we also believe the growth of the emerging market is 5% to 5.5% gdp growth to a developed world which is 2% in the u.s., 1% in europe, and so relatively speaking we expect growth to continue to go that way. tracy: i know one of your favorites is brazil. low evaluations, cheap basically; right? but really reliant on china. does that worry you? >> so we believe that china actually is com
are the developing economies engines of growth? here with the outlook is daniel gamba, head of black rock's ishare's institutional business. a big year last year. is it going to keep up? >> a great year for etfs and emerging markets. emerging markets grew about 50% year over year, and it was five times the close the year prior, and it happened both on equities and on debt, and we expect that this year will continue to be that. a lot of the growth came in the fourth quarter, and these...
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Jan 14, 2013
01/13
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it would be a self-inflicted wound on the economy. it would slow down our growth, might tip us into recession, and ironically, would probably increase our deficit. so even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. it's absurd. as the speaker said two years ago, it would be, and i'm quoting, speaker boehner now, a finance ral disaster not only for us but for the worldwide economy. so we've got to pay our bills. and republicans in congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. and they better choose quickly because time is running short. the last time republicans in congress even flirted with this idea our aaa credit
it would be a self-inflicted wound on the economy. it would slow down our growth, might tip us into recession, and ironically, would probably increase our deficit. so even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. it's absurd. as the speaker said two years ago, it would be, and i'm quoting, speaker boehner now, a finance ral disaster not only for us but for the worldwide economy. so we've got to pay our bills. and republicans...